Dubai-based luxury developer Binghatti Holding has received a credit rating upgrade from Fitch Ratings, moving from ‘B+’ to ‘BB-’, with a stable outlook. The upgrade highlights Binghatti’s robust liquidity, low net debt-to-EBITDA ratio of 0.8x in 2024, and ability to self-fund future projects. The developer’s revenues are forecast to surge from AED 6.3 billion in 2024 to over AED 20 billion in 2025, backed by a pipeline of 21,000 units valued at AED 45 billion.

With a $500 million sukuk listed on Nasdaq Dubai and London Stock Exchange, Binghatti’s high-profile projects—including collaborations with Mercedes-Benz, Bugatti, and Jacob & Co.—drive strong international investor demand.